Thrivent Financial for Lutherans Acquires 8,848 Shares of Enbridge Inc. (NYSE:ENB)

Thrivent Financial for Lutherans grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,685 shares of the pipeline company’s stock after purchasing an additional 8,848 shares during the period. Thrivent Financial for Lutherans’ holdings in Enbridge were worth $1,895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ENB. Pinnacle Financial Partners Inc grew its position in shares of Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares during the period. Stonegate Investment Group LLC raised its position in shares of Enbridge by 66.5% in the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after buying an additional 13,515 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Enbridge by 816.2% in the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after buying an additional 19,344 shares in the last quarter. Finally, Ted Buchan & Co increased its position in Enbridge by 43.5% during the 3rd quarter. Ted Buchan & Co now owns 48,799 shares of the pipeline company’s stock worth $1,985,000 after purchasing an additional 14,791 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ENB shares. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Stock Performance

NYSE:ENB opened at $42.90 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70. The firm has a market cap of $93.44 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 4.18 and a beta of 0.93. The business’s fifty day moving average is $41.57 and its 200 day moving average is $38.82.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the company posted $0.46 EPS. Research analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is currently 121.76%.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.